Specialty Health Care Distributor Appoints Longtime Cardinal Health Executive to Advance Strategic Growth
SYLMAR, Calif. and DUBLIN, Ohio, June 8 /PRNewswire/ --Sarnova, the nation's leading specialty distributor of health care products in the emergency medical services and respiratory markets, announced today that it has appointed Hank Struik to chief executive officer. A former president with Cardinal Health, Inc., Mr. Struik, 42, brings more than 20 years of medical products experience to Sarnova. He replaces Craig Davenport, who is stepping down as chief executive after integrating Bound Tree Medical and Tri-anim Health Services, Inc. following their merger to create Sarnova last year.
"We want to thank Craig for his work in bringing together two very successful businesses and preparing them for their next phase of growth as one organization," said Kevin Swan, a Sarnova board member and partner with Water Street Healthcare Partners. Water Street, a leading private equity firm focused exclusively on health care, invested in and facilitated the merger of Bound Tree and Tri-anim. "Sarnova is now well-positioned to leverage its increased size and scale to strategically enhance and expand the breadth of its specialty medical products and services. Hank is a highly regarded leader with an outstanding track record of building high-quality, high-performing medical products businesses. His extensive industry expertise and relationships will be key assets in advancing the next stage of Sarnova's growth and expansion."
During a career spanning more than 20 years with Cardinal Health, Mr. Struik played a lead role in building and operating many of its global medical products businesses. He spearheaded the company's 2007 acquisition of Viasys Healthcare to establish Cardinal Health as a leader in respiratory care. In addition to serving as president of Cardinal Health's $850 million Respiratory and Neurocare division, Mr. Struik held executive positions in sales, marketing, business development and operations. He joined Water Street as a senior executive advisor earlier this year.
"I am very excited to become part of Sarnova, a company that is dedicated to making a difference in people's lives. Its employees are passionate about going above and beyond to support clinicians and emergency technicians with their goal of saving lives," said Struik. "We have a phenomenal opportunity to strategically partner with our customers and suppliers to make even more of a meaningful impact moving forward. My immediate focus is collaborating with our senior management team to develop a strategic roadmap that delivers greater long-term value for all of the people we serve," said Struik.
Sarnova is the nation's leading specialty distributor of health care products to the emergency medical services (EMS) and respiratory markets. It is comprised of two businesses: Bound Tree Medical and Tri-anim Health Services, Inc. Together, the two businesses distribute more than 100,000 health care products to thousands of emergency care providers, hospitals and surgery centers through 17 distribution centers located across the country. To learn more, please contact Greg Robitaille, 312-506-2974 or Kevin Swan, 312-506-2908. You can also visit www.tri-anim.com or www.boundtree.com.
About Water Street Healthcare Partners
Water Street Healthcare Partners is a leading private equity firm focused exclusively on health care. With more than $1 billion of capital under management, Water Street is one of the most active investors in the health care industry. The firm has a strong record of building market-leadership companies across key growth sectors in health care. It has partnered with some of the world's leading health care companies on its investments including: Johnson & Johnson, Medtronic and Smith & Nephew. Water Street's team is comprised of industry executives and private equity professionals with decades of experience investing in and operating global health care businesses. The firm is headquartered in Chicago. For more information about Water Street, visit www.wshp.com.
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